Canada-based miner Eastern Platinum (Eastplat) said industrial action at its flagship Crocodile River Mine (CRM) had been resolved and staff were returning to work.

The strike, which was reported to be peaceful, had cut production in half. The news caused the AIM-listed company's shares to surge 13%.

The end of the dispute between one of its contractors, JIC Mining Services, and the National Union of Mineworkers meant the majority of JIC's 756 employees working at the Crocodile River Mine ("CRM")
had already gone back to work, Eastplat said.

Full attendance was expected today, the firm said, which would mean full production at CRM could be resumed.

Eastplat also said that following the resignation of Wayne Robinson, managing director of Barplats Mines, on October 25, the company had put a number of initiatives in place to provide "appropriate ongoing executive and operational management in South Africa".

Eastplats owns almost all of Barplats.

"A transition and hand-over will occur prior to Mr. Robinson's departure in December 2011 and the company does not expect this to affect operations and production," it said.

In August Eastplats announced a net loss of $7.95m for the second quarter, compared with earnings of $3.45m the year before, largely due to the impact of the industrial action at CRM.

Related share prices
Eastern Platinum Ltd (DI) (ELR) share price